Yesterday I wrote about how the online broker Redfin is publishing MLS data within 15 minutes of a house being marked sold on MLS. Today, TechCrunch announced that Redfin raised $10 Million in a venture capital round led by Greylock Partners
. Redfin announced it was profitable this summer. According to TechCrunch Redfin has roughly quadrupled in size since 2008, even in a down real estate market. It looks like Redfin is not going anywhere soon.
But customers clearly love the service, and they have closed more than $2 billion in home sales since launching in February 2006. The total U.S. home real estate market is around $1 trillion, so they have some room to grow.
I just noticed on their website, that Redfin will available in Atlanta, GA. I don’t cover Atlanta but know a lot of appraisers that do. It will be interesting to see how Redfin affects their business.
Redfin is available in Boston, Chicago, Los Angeles, New York, Orange County, Sacramento, San Diego, San Francisco, Seattle, and Washington, DC.
Redfin [Via TechCrunch]
Posted by Bryan McDonald (Follow him on Twitter)
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